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TrendTracers Weekly Market Analysis #10Small hiatus past weeks but we’re back at it again. tldr: This is not a price to FOMO buy. In fact if you didn't take profit near the last top now is a good time to do so. BTC Last analysis we predicted a test to 42k which played out very nicely. We managed to get in the market on the buy signal provided by our strategy depicted in the chart. We hit our first target at 42k and our second target is the 45k-47k area. The weekly trend is still considered bearish according to our system. Price is about to test resistance so it would not be wise to call for the next bull run here. The bullish case on the weekly chart would be a break of 52k. The bearish case would be rejection from current resistance and to cause maximum pain it could test below 29k. Another scenario would be a higher low formation within the last developed price range between 42k-29k. We are a bit weary this might be a FOMO top where inexperienced investors rush in to catch the next bull run. We notice a lot of bullish sentiment on the social channels while the market is still in a corrective state. BTC.D is creating an ascending triangle, we’re waiting to see it break above 50% or break down to test the lower end of the range around 40%. The latter would be considered bullish for altcoins and the market in general. ETH Ethereum is currently testing liquidity above 2900, it might squeeze to 3400. There is no reason to be completely bullish just yet because the market is still correcting on a larger scale. However this is a good time to start taking some profits if you are invested in ETH. ETHBTC broke up from the descending triangle depicted in the chart. It might test 75000 sat and start ranging. We have yet to see how price will react on the red order block in the chart. USDT.D/DXY USDT.D coming down nicely from the fakeout high it formed above 5.00%, which correlates nicely with the bullish movement of the market in the past few weeks. For now this is considered bullish for crypto. The DXY is still testing the resistance of the range depicted in the chart. A weekly close above 93, as stated in our previous analysis as well, will be bearish for the global market. TOTAL1/TOTAL2 Finally something to say about the TOTAL, although not much. TOTAL1 is within the distribution range, we don’t expect it to climb much higher. TOTAL2 however, still has some room to go up above the 1 Trillion indicating a small alt season yet to come. Did you guys make any profit or want our take on any coins? Please leave a comment+like and we'll review them! ~Trendtracers team
Short
by dab1rd
1
Bitcoin, Baseball, & the Lunar CyclesBitcoin, Baseball Superstitions, and the Lunar Cycles: Using the Moon Phase Indicator to Enhance Your Trading Success It is rather well known amongst the trading community that J.P. Morgan once stated, “millionaires don’t need astrologists, but billionaires do”. I wonder though… Do most traders know that Evangeline Adams, the financial astrologist he chose to consult prior to big plays, was also the same woman sought after by other high ranking executives and famous magnates of the time such as Charles Schwab? Not a bad coach to have on your team even if others might question her methods. When I first began learning about and living the trading life, it reminded me of baseball fandom and superstitions. I always felt a little bewildered that a community that prioritized statistics, analytics, and logic could have a magical underbelly of inexplicable traditions amongst its players and spectators alike. There are so many infamous rituals in baseball that are—often unintentionally—mirrored in trading. 

 Baseball: Never talk about a no-hitter while it’s in progress
 Trading: Never brag about a trade until you’ve secured profit 

 Baseball: Refusing to wash hats, uniforms or clothes during a winning streak
 Trading: Often not washing yourself, the loungewear you’ve putzed around in for a few days, or the coffee mug you are consistently refilling during a trading bender Whether you don’t believe in superstitions or you’ve never missed Sweet Caroline with the Sox, everyone can agree that there are always matters unseen at play. Some things in life, baseball, or trading are just left up to chance. While some players blame poor performance on their lack of ritual follow through others will credit their rally to a stinky, inside out cap. In this classic “chicken vs. the egg” scenario; there are no concrete, analytical methods to prove correlation nor causation, yet people believe in them anyway. Similar to the argument over the validity of superstitions is the classic trader argument over the validity of indicators. Some claim price action is king and all indicators lag while others claim that price action is largely driven or influenced by these same indicators. Chicken: meet egg. To quell the civil war in every classic sitcom, sport, or hobby there always has to be one outlier that seems to be universally despised, questioned, or teased, and in trading that *coveted* role belongs to the moon phase indicator. Does it deserve all of the hate that it gets? Well, of the many natural patterns integrated into trading, one of the most well-regarded is the Fibonacci sequence. Although some may argue fibs are more technical due to their mathematical nature, others may counter that fibs essentially provide broader, more general intervals that price simply likes to range between. Uniquely enough, the moon is not a lagging indicator as its cycles and intervals are all predetermined based on previous compiled data, much like fibs. For how much the market preaches about cycles, theoretically, I am surprised there has not been more interest or research devoted to the astrological relations to trading. Conceptually, and scientifically, I can understand the doubt since little to no data has been quantified into a validated format. Much easier to study seashells than planets. Last, but not least, there is a lack of uniformity over application; mostly due to its lack of use. The moon phase indicator used here correlates local bottoms with full moons and local tops with new moons. The swings between cycles seem obvious, and I believe they are more easily seen on assets that trade 24-7 such as crypto in comparison to other markets with designated trading hours because, like the moon, the market is constantly in motion. The moon phases are like playoff beards. Everyone can grow one.. but it doesn't "look right" on every face. If you are willing to believe in superstitions, and you can't call the chicken or the egg.. why not open your mind to the moon phases? After all, part of the reason why we're drawn to the moon is its mystery. Like many trading indicators you use, you may not know the logic behind it but, "hey, if it works!".... ;-) Whether you are bullish, bearish, or anti-goat (Go Cubs Go!), Bitcoin finds its spectators singing in the 7th inning stretch, wondering where the next 2 innings will take us. Will the the August 8th New Moon follow trend and print a local top, swinging us down to the 22nd Full Moon time where we will see a local bottom? Or, will the momentum from the July bottom (Full Moon) carry us up and into extra innings of a bull market for crypto? Unless you’re a billionaire like J.P. Morgan, whom happened to have an astrological consultant at his ready, I guess the Moon Phases indicator in Trading View will have to do. My technical opinions on BTC are as follows: I do not believe that BTC will surpass 50K (or hold any brief break into it) due to the primary factor of psychological resistance. In addition, the point of control within the 49s really limits a break into the upper trading range “block”. Due to certain cycles, I believe the end of March marked the high for BTC. Statistically, I am firm in my belief that trading with the moon phases have demonstrated the best r/r opportunities for trading Bitcoin thus far. **NOTE: The tops/bottoms are not often occurring on the exact day of a new or full moon; rather, it provides a nice 3-4 day range, providing you with GREAT opportunity to scale in.** Cross reference with confluence and setups are a cake walk. I do believe that the new moon continues to show local tops and full moons continue to show local bottoms, though sizes of the swings on previous blocks or fractals may vary. Uptrending swings (from the full moon leading up to the new moon) measure as larger movements while downward swings (from new moons to full moons) have been more mild in comparison. 

 Bullish Scenario: 
 From Jan 21 BTC has completed a pagoda pattern and has consolidated in this high 20’s/low 40’s range. You could consider the May ’21 to Aug ’21 patterns on the daily as a bullish megaphone, which would suggest that as of this weekend (PA from Aug 7-8) price has broken towards the upside. BTC is likely to retest the break, and if it can flip the low/mid range 40s as a support, I believe we see 47 or 48K with deviations into the high 49s—maybe a kiss at 50 if we turn out the rally caps. 

 Bearish Scenario: 
 BTC has been making higher highs but until recently was printing lower lows with the bodies. Untested old levels remain, but like many growth stocks (looking at you, Proctor & Gamble) it is entirely possible those levels get retested. Nonetheless, I could be wrong about the pagoda pattern being finished, with BTC wanting more retracement to the downside. Pending regulations re: crypto, the 20s may be revisited where—*SHOCKER*—like a veteran pitcher that still throws heat, big bankrolls were able to scoop it up at a bargain price. Neutral Scenario: 
 BTC makes it to some conference games through the Fall (pushing the ceiling at 50K) but can’t seem to make it to October. Price ranges, slowly consolidating until the off season comes. BTC can crush some brewskis, let its figure go and hibernate for the crypto winter, maybe making one or two appearances on TV or TikTok before revisiting us in the Spring. Blame it on the GOAT.
by amizzle
10
I Think Bitcoin Will Maintain Its Support ZoneBINANCE:BTCUSDT I think that Bitcoin will maintain the support area, and return to test the forty thousand levels, and if it fails again to break it, there is a possibility of a violent decline, and if it can break it, it will be a strong rise to the top, but now I do not see from my point of view a violent decline. I am thinking of buying when there is a false break of the support area shown in the chart This is not investment advice, but rather a personal analysis. Do your research before trading or investing Check My Previous analysis about BITCOIN it's intrested I wish good luck to everybody
Long
by SCALPOO
6
DOGE USD It's Noobelisious !The Content is not intended to be a substitute for professional trading or medical advice , diagnosis, or treatment. Always seek the advice of your broker, physician or other qualified advice provider with any questions you may have regarding any condition or feeling you may have. This product is not intended to diagnose, treat, cure, or prevent any symptons that may or may not have been caused by fud or fomo. Be aware that consuming hopium is solely at your own risk and that moderation is strongly adviced if you choose to do so.
BITFINEX:DOGEUSD
by Rekt4Sure
7
Point Of No Return!Alright people, are you ready to meet my bull face? I never actually removed my laser eyes anyways :))) There's a bull inside of every bear and vice versa! Let's start with, the bad news: Redistribution is invalidated, no more 20k in the horizon. The rally from 30k has set the end of redistribution scenario which has always been the possibility and this also means the whole time we were in accumulation, just like i first started the analysis of this series. Look at my very first wyckoff accumulation analysis: I didn't even know about redistribution back then and even called this incorrectly as reaccumulation, see how far we come :) Good news is that the structure is now much clear. Especially by the help of my infamous indicator TOTT, which has printed the first buy signal since selling on April 24th. I trust it, because i have been backtesting it for 6 months, maybe more. This is the wake up call for me and I'm pretty confident that we are going up soon. (Last words LOL :) The primary accumulation is ended with the streak leg up and now, we are in a smaller reaccumulation which will take us to the demand side of the newly forming uptrend channel. It will take us till late August to break above 40k and start a new leg up all the way to 60k levels and another reaccumulation to resume the trend towards 80k where the distribution starts playing with the preliminary supply event up until 100k. Let's look at the p&f chart for the accumulation count and price objective Copy this Open4Profit! (The guy who copied my previous p&f analysis and presented as his own. Glad that idea went bust :) To sum up, we are going to 100k in 4 easy steps: Step 1 / 35-41k Reaccumulation / 41-59k Markup Step 2 / 59-65k Reaccumulation / 65-77k Markup Step 3 / 77-83k Reaccumulation / 83-89k Final Markup Step 4 / 89-100k Distribution & Blow Off Top And then you'll have a very big problem on how to spend your money till the next bull cycle :))) It's ofcourse too early to set the boundaries of channel as it has yet to make the down move, but this is the opportunity right now for us to buy the last point of support. THIS WILL BE THE POINT OF NO RETURN! My target entry points are split between these support levels with different asset allocation. 37.300 - Monthly support (May Close) 36.500 - Bottom support of new trading range 35.800 - Additional step between spring and support 35.200 - if a spring type action occurs I see sub 35k highly gone forever Laura. Starts are aligned, limit orders are set, waiting to get filled. If, we don't go down to these levels, i'll buy the breakout anyway. My previous target, the breakout above 41.330 is still valid, BUT if it happens today or too soon before going down first, it would most probably be a trap to shakeout the weak hands. So, if you already bought here, you need to hold on tight and move your stop loss lower around 30k if you don't want to get liquidated. If you want to buy the breakout, wait until this consolidation ends, in the meantime enjoy lower prices whenever you can. That's what i will be doing. I wish we went down further and took the chance, but this bull cycle seems to be a double top scenario like 2013. So here you are, going to the moon :) Best.
Long
by BitcoinMillio18
115